The stock of Square, Inc. (NYSE:SQ) is now priced at $147.22 and the shares are -6.78 points down or -4.4% lower compared to its previous closing price of $154. The stock had 15.457 million contracts set over the past session. SQ shares’ daily volume is compared to its average trading volume at 14 million shares. However, it has a float of 356 million and although its performance was 13.38% over the week, it’s one to watch. Analysts have given the SQ stock a yearly average price target of $102 per share. It means the stock’s downside potential is -30.72% with the SQ share price recently placing at $143.35 to $153.8399. However, some brokerage firms have priced the stock below the average, including one that has called $44.
The shorts are running away from the Square, Inc. stock, with the latest data on short interest released on July 31, 2020, showing that short interest numbers in the SQ shares have declined. Short interest in the stock represents just 7.76% of its float, but the volume has dropped by 0.
In the last trading session, Square, Inc. (NYSE:SQ) raised by $17.37 over the week and gained $19.17 on its 20-day. The stock’s high in the recent session is lower when compared to its 52-week high of $158.43. The stock recorded its established 52-week high on 08/05/20.
Since 03/18/20, the stock has traded to a low of $32.33 at 355.37%, an encouraging piece of data likely to interest most investors out to exploit the stock’s recent surge. The stock has a beta allocation of 2.72. Being above 1 means that the stock’s volatility is higher than the market and traders are keenly watching it.
Looking at current readings, Square, Inc.’s two-week RSI is 68.92. This suggests that the stock is neutral at the moment and that SQ shares’ price movement remains stable. The stochastic readings are equally revealing at 77.86% meaning the SQ share price is currently in oversold territory.
The technical chart shows that the SQ stock will likely settle at between $152.92 and $158.63 per share. However, if the stock dips below $142.43, then its market would become much weaker. Any downside could see the stock price sliding to levels as low as $137.65.
Currently, the stock is trading in the green of MACD, with a reading of 12.54. Investors always pay attention to any move above or below the zero-line, mainly because the indicator points to the position of the stock’s short-term average relative to its long-term measure. A MACD -a reading above the zero line means that the short-term is above the long-term average. This scenario implies that there is an upward momentum. The opposite is true when the MACD falls below the zero-line.
Analysts at Compass Point raised their recommendation for SQ from Sell to Neutral in August 06 review while maintain their target price of $140. RBC Capital Mkts analysts see the stock as a Outperform, but they also raised the share’s target price from $119 to $200 in a flash note released to investors on August 05. Goldman analysts see the stock as Neutral when the analysts initiated the share price coverage on July 14, placing it at $133.
The average rating for the SQ equity is 2.72 and is currently gathering a bullish momentum. Of 41 analysts tracking Square, Inc. polled by Reuters, 22 rated SQ as a hold. The remaining 19 analysts were split evenly. However, the split wasn’t equal as a majority (15) rated it as a buy or strong buy. 4 analyst advised investors against buying the stock or to sell if they own any of the stock.
Elsewhere, the SQ stock price is 151.31X ahead of its 12-month Consensus earnings per share estimates. The stocks P/S ratio currently stands at 226.5 above the group’s average of 38. Square, Inc. has its P/E ratio at 33.9, which means that the stock is currently trading at a premium relative to the 12.8 industry average.
Zacks Consensus Estimate forecasts that the current-quarter revenues for Square, Inc. (NYSE:SQ) will decrease by about -4.89%, which will see them reach $1830 million. The company’s full-year revenues are, however, expected to increase by about 202.2%, up from $2.27 billion to $6.86 billion. SQ’s expected adjusted earnings should drop almost -36% to end up at $0.16 per share, while for the fiscal year, analysts project the company’s earnings to drop by about -38.75% to record $0.49/share.